Dashboard

Yield and portfolio information to help public funds investment officials manage portfolios, monitor markets and benchmark portfolio performance of local government investment pools (LGIPs) and short term portfolios.

Money Market Yields

Tracking the Fed: Markets Have Raised the Odds of a Rate Cut


Market sentiment has now moved strongly to expect a cut of 25 basis points at next week’s Federal Open Market Committee meeting.  This is a big reversal in a short period.  It doesn’t appear that much has changed in the economy in the past couple of weeks, though the delay/absence of good data stemming from the government shutdown certainly does not lend confidence to the outlook.  Rather investors have read  the most recent speeches and statements by a majority of FOMC members as supporting a step to ease rates. 

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Insights

Is Monetary Policy Broken?

This may appear to be a bit wonky for some public funds investors who have more important things on their minds but bear with me. The implications of a breakdown in monetary policy are dire for investment markets and for the macroeconomy. The headlines for next week’s Federal Open Market Committee meeting will be about […]

Cracks Are Appearing in the Credit Markets

Cracks are appearing in the credit markets and public funds investors should amp up risk management efforts or avoid the risks that could upend portfolio strategies at a time when economic uncertainty, falling short term interest rates and disruption to historic government funding could stress state and local government budgets. There are two stories here: […]

2024 LGIP Survey: LGIPs Hold Nearly $1 Trillion of Public Funds

Our annual survey of local government investment pools is out.  This year we expanded our survey to include local sponsored LGIPs. In total we identified 161 portfolios. They operate in all but seven states. The survey is the only comprehensive look  at the LGIP industry which invests assets for thousands of public units across the […]

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